Zacks Investment Research downgraded shares of Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) from a buy rating to a hold rating in a report published on Friday morning. They currently have $9.00 target price on the biotechnology company’s stock.

According to Zacks, “Trillium Therapeutics Inc. is a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer. The company’s lead program, SIRPaFc (TTI-621), is a fusion protein that consists of the CD47-binding domain of human SIRPa linked to the Fc region of a human immunoglobulin (IgG1). It is designed to act as a soluble decoy receptor, preventing CD47 from delivering its inhibitory (do not eat) signal. Neutralization of the inhibitory CD47 signal enables the activation of macrophage anti-tumor effects by pro-phagocytic (eat) signals. A Phase 1 clinical trial (NCT02663518) evaluating SIRPaFc is ongoing. Trillium also has a proprietary medicinal chemistry platform, using unique fluorine chemistry, which permits the creation of new chemical entities from validated drugs and drug candidates with improved pharmacological properties. “

A number of other equities research analysts have also commented on the company. HC Wainwright reiterated a buy rating and issued a $10.00 price target on shares of Trillium Therapeutics in a research report on Thursday, December 14th. ValuEngine upgraded Trillium Therapeutics from a sell rating to a hold rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $12.33.

Trillium Therapeutics (NASDAQ TRIL) traded down $0.25 during midday trading on Friday, hitting $7.45. The company’s stock had a trading volume of 48,400 shares, compared to its average volume of 88,140. Trillium Therapeutics has a 1 year low of $4.15 and a 1 year high of $13.30. The company has a market cap of $83.12, a price-to-earnings ratio of -2.90 and a beta of 13.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.33 and a quick ratio of 6.33.

Several institutional investors have recently made changes to their positions in TRIL. AWM Investment Company Inc. acquired a new position in Trillium Therapeutics during the 2nd quarter worth approximately $4,415,000. Janus Henderson Group PLC acquired a new position in Trillium Therapeutics during the 2nd quarter worth approximately $2,395,000. Tekla Capital Management LLC acquired a new position in Trillium Therapeutics during the 2nd quarter worth approximately $1,980,000. Victory Capital Management Inc. raised its stake in Trillium Therapeutics by 88.9% during the 2nd quarter. Victory Capital Management Inc. now owns 146,571 shares of the biotechnology company’s stock worth $645,000 after buying an additional 68,970 shares during the period. Finally, K2 Principal Fund L.P. acquired a new position in Trillium Therapeutics during the 2nd quarter worth approximately $264,000. Institutional investors own 45.54% of the company’s stock.

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About Trillium Therapeutics

Trillium Therapeutics Inc, a clinical-stage immuno-oncology company, develops therapies for the treatment of cancer. The company’s lead program is TTI-621, a SIRPaFc fusion protein that acts a soluble decoy receptor preventing CD47 from delivering its inhibitory signal, which is in Phase I clinical trial for advanced hematologic malignancies and solid tumors therapy.

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